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Principal Financial Group Associate Actuary (Model Risk Management) - #222598 in Des Moines, Iowa

Job Area: ActuarialBusiness Area: Corporate RiskLocation: IA - Des MoinesCareer Category: Experienced ProfessionalFull/Part Time: Full-TimeRegular/Temporary: RegularDate Posted: 2019-02-09

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Responsible for leading and evolving the organization’s model risk management program to drive strong model risk governance and management. The role works collaboratively with business segments and enterprise risk management function to influence effective model risk management. The position includes defining standards and processes for model validation and risk assessment, performing model validations, and building capabilities to support independent model validation.

The role will:

  • Establish policies, standards and processes for managing model risk in areas to include model inventory, model development, risk assessment, and model validation.

  • Perform model validation activities. Provide effective challenge to model developers and elevate findings to help improve our models.

  • Build a team to support independent model validation activities

  • Effectively communicate the results of model validation activities, model limitations and uncertainties to the key stakeholders and management

  • Monitor and report on enterprise model risk


  • Bachelor’s or Master’s Degree in Actuarial Science or related field.

  • A Fellow of the Society of Actuaries (FSA) is required.

  • 6+ years of actuarial experience is required.

  • Experience working in the financial service industry with a background in the development, validation and use of financial, actuarial, and statistical models.

  • Familiarity with key model risk framework components, including model validation, model inventory, model development, and model risk assessment.

  • Ability to create and articulate a strong vision for effectively managing model risk that balances business unit and corporate risk roles, resources, and skills.

  • Ability to build strong relationships with business partners, influence development of effective model risk management, and minimize and address conflict and demonstrate in-depth understanding of compliance and operational risks.

  • Able to communicate and provide governance for model risk, and present to various management committees and boards.

  • Act independently and demonstrate strong initiative.

  • Requires a sense of urgency, passion for results, and personal accountability for achievement.

  • Knowledge of pertinent laws, regulations, the Actuarial Standards of Practice promulgated by the Actuarial Standards Board, and the Code of Professional Conduct of the AAA and the SoA is required.

Additional Information

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Work Authorization/Sponsorship

At this time, we're not able to consider candidates who would need sponsorship now or in the future or those needing work authorization for this role. (This includes students on F1-OPT, F1-CPT, J-1, etc.) However, we’d hope you continue to keep us in mind for other potential opportunities in the future.

Principal is an Affirmative Action and Equal Opportunity Employer.

All qualified applicants will receive consideration for employment without regard to of age, race, color, religion, sex, gender identity, gender expression, pregnancy, national origin, citizenship status, disability, genetic characteristics, sexual orientation, marital status, domestic partner status, military status, protected veteran status, disability status or any other characteristic protected by law.

Investment Code of Ethics

For positions with Principal Global Investors, you will be required to comply with a Code of Ethics which covers a number of obligations related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.